NEOM, Through its strategic arm NEOM Investment Fund (NIF), NEOM announced today the closing of an investment agreement with REGENT, the US-based electric seagliders manufacturer, according to a press release issued by NEOM.
The agreement, said the release, is part of a longstanding partnership between NEOM and Regent, and it aims to strengthen NEOM's capabilities in sustainable water mobility, enabling it to provide passengers with state-of-the-art water transport services in the region.
According to the release, "the partnership includes a commitment by REGENT to establish a Middle East RandD and Training Hub to support seagliders enablement as well as infrastructure and operational readiness. From 2024 onwards, young Saudi engineering and tech graduates working for NEOM will have the opportunity for work placements at REGENT and learn more about its innovative technology."
NIF CEO Majid Mufti was quoted in the press release as saying that this investment is proof of NEOM's "ambitious efforts to build the first truly sustainable, shared, and seamlessly integrated mobility system in the world".
"We have worked closely with NEOM’s mobility sector to identify exciting opportunities such as this, which can further NEOM’s goals, in line with Saudi Arabia’s Vision 2030. These innovative electric seagliders will contribute to our progress toward zero carbon operations,” said Mufti.
According to Executive Director of Land Mobility at NEOM Terry Wong, "seagliders will provide a fresh approach to coastal transportation in NEOM, both passenger and freight, connecting key destinations along 468 kilometers of coastline, and reflect our belief in zero-carbon technologies, and the growth of new industries and skills in the Kingdom”.
REGENT co-founder and CEO Billy Thalheimer said "NEOM’s goal to build a carbon-free community through revolutionary design is strongly aligned with our mission to build sustainable connections using seagliders".
According to the release, "seagliders combine the speed of an aircraft with the convenience of a boat. They float on a hull at the dock, travel on wave-tolerant hydrofoils in harbors, and fly within one wingspan of the surface over open water at speeds up to 180mph (289 kph). REGENT’s flagship seaglider, the 12-passenger Viceroy, will offer a one-of-a-kind customer experience and comfort".
Source: Saudi Press Agency